This book explores the organization of creative industries, including the visual and performing arts, movies, theater, sound recordings, and book publishing. In each, artistic inputs are combined with other, "humdrum" inputs. But the deals that bring these inputs together are inherently problematic: artists have strong views; the muse whispers erratically; and consumer approval remains highly uncertain until all costs have been incurred.

To assemble, distribute, and store creative products, business firms are organized, some employing creative personnel on long-term contracts, others dealing with them as outside contractors; agents emerge as intermediaries, negotiating contracts and matching creative talents with employers. Firms in creative industries are either small-scale pickers that concentrate on the selection and development of new creative talents or large-scale promoters that undertake the packaging and widespread distribution of established creative goods. In some activities, such as the performing arts, creative ventures facing high fixed costs turn to nonprofit firms.

To explain the logic of these arrangements, the author draws on the analytical resources of industrial economics and the theory of contracts. He addresses the winner-take-all character of many creative activities that brings wealth and renown to some artists while dooming others to frustration; why the "option" form of contract is so prevalent; and why even savvy producers get sucked into making "ten-ton turkeys," such as Heaven's Gate. However different their superficial organization and aesthetic properties, whether high or low in cultural ranking, creative industries share the same underlying organizational logic.

On April 20, 2010, the crew of the floating drill rig Deepwater Horizon lost control of the Macondo oil well forty miles offshore in the Gulf of Mexico. Escaping gas and oil ignited, destroying the rig, killing eleven crew members, and injuring dozens more. The emergency spiraled into the worst human-made economic and ecological disaster in Gulf Coast history.

Senior systems engineers Earl Boebert and James Blossom offer the most comprehensive account to date of BP’s Deepwater Horizon oil spill. Sifting through a mountain of evidence generated by the largest civil trial in U.S. history, the authors challenge the commonly accepted explanation that the crew, operating under pressure to cut costs, made mistakes that were compounded by the failure of a key safety device. This explanation arose from legal, political, and public relations maneuvering over the billions of dollars in damages that were ultimately paid to compensate individuals and local businesses and repair the environment. But as this book makes clear, the blowout emerged from corporate and engineering decisions which, while individually innocuous, combined to create the disaster.

Rather than focusing on blame, Boebert and Blossom use the complex interactions of technology, people, and procedures involved in the high-consequence enterprise of offshore drilling to illustrate a systems approach which contributes to a better understanding of how similar disasters emerge and how they can be prevented.

The world of sports seems entwined with lawsuits. This is so, Paul Weiler explains, because of two characteristics intrinsic to all competitive sports. First, sporting contests lose their drama if the competition becomes too lopsided. Second, the winning athletes and teams usually take the "lion's share" of both fan attention and spending. So interest in second-rate teams and in second-rate leagues rapidly wanes, leaving one dominant league with monopoly power.

The ideal of evenly balanced sporting contests is continually challenged by economic, social, and technological forces. Consequently, Weiler argues, the law is essential to level the playing field for players, owners, and ultimately fans and taxpayers. For example, he shows why players' use of performance-enhancing drugs, even legal ones, should be treated as a more serious offense than, say, use of cocaine. He also explains why proposals to break up dominant leagues and create new ones will not work, and thus why both union representation of players and legal protection for fans--and taxpayers--are necessary.

Using well-known incidents--and supplying little-known facts--Weiler analyzes a wide array of moral and economic issues that arise in all competitive sports. He tells us, for example, how Commissioner Bud Selig should respond to Pete Rose's quest for admission to the Hall of Fame; what kind of settlement will allow baseball players and owners to avoid a replay of their past labor battles; and how our political leaders should address the recent wave of taxpayer-built stadiums.

Mark H. Moore’s now classic Creating Public Value offered advice to public managers about how to create public value. But that book left a key question unresolved: how could one recognize (in an accounting sense) when public value had been created? Here, Moore closes the gap by setting forth a philosophy of performance measurement that will help public managers name, observe, and sometimes count the value they produce, whether in education, public health, safety, crime prevention, housing, or other areas. Blending case studies with theory, he argues that private sector models built on customer satisfaction and the bottom line cannot be transferred to government agencies. The Public Value Account (PVA), which Moore develops as an alternative, outlines the values that citizens want to see produced by, and reflected in, agency operations. These include the achievement of collectively defined missions, the fairness with which agencies operate, and the satisfaction of clients and other stake-holders.

But strategic public managers also have to imagine and execute strategies that sustain or increase the value they create into the future. To help public managers with that task, Moore offers a Public Value Scorecard that focuses on the actions necessary to build legitimacy and support for the envisioned value, and on the innovations that have to be made in existing operational capacity.

Using his scorecard, Moore evaluates the real-world management strategies of such former public managers as D.C. Mayor Anthony Williams, NYPD Commissioner William Bratton, and Commissioner of the Minnesota Department of Revenue John James.

The Survey of Organizational Excellence is revolutionizing the operation of Texas state agencies and other governmental and private organizations. Developed and refined over the last twenty years by a team of researchers led by Michael Lauderdale, the survey is a proven tool for improving the effectiveness of state government services through surveys of employee attitudes toward their organizations.

In this book, Lauderdale gives a history of the survey and its use under four governors, including George W. Bush. He explains what the survey is, how to use it, and how to apply its results to organizational change and improvement. Step-by-step instructions for planning, implementing, and evaluating the survey are enhanced with real-life case studies from the 140,000 surveys that have been distributed and used by more than 75 different organizations. Lauderdale also sets the survey in a broader perspective by identifying some of the forces currently impelling change in organizations throughout our society and exploring where this push for change is taking us.

Society and Economy—a work of exceptional ambition by the founder of modern economic sociology—is the first full account of Mark Granovetter’s ideas about the diverse ways in which society and economy are intertwined.

The economy is not a sphere separate from other human activities, Granovetter writes. It is deeply embedded in social relations and subject to the same emotions, ideas, and constraints as religion, science, politics, or law. While some actions can be understood in traditional economic terms as people working rationally toward well-defined ends, much human behavior is harder to fit into that simple framework. Actors sometimes follow social norms with a passionate faith in their appropriateness, and at other times they conform without conscious thought. They also trust others when there is no obvious reason to do so. The power individuals wield over one another can have a major impact on economic outcomes, even when that power arises from noneconomic sources.

Although people depend on social norms, culture, trust, and power to solve problems, the guidance these offer is often murky and complicated. Granovetter explores how problem solvers improvise to assemble pragmatic solutions from this multitude of principles. He draws throughout on arguments from psychology, social network studies, and long-term historical and political analysis and suggests ways to maneuver back and forth among these approaches. Underlying Granovetter’s arguments is an attempt to move beyond such simple dualisms as agency/structure to a more complex and subtle appreciation of the nuances and dynamics that drive social and economic life.

This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders, the author argues, because they are the constituency that bear business risk and therefore have the appropriate incentives to maximize corporate value. Assigning control to any other group would be tantamount to allowing that group to play poker with someone else's money, and would create inefficiencies. The implicit denial of this proposition is the fallacy of the so-called stakeholder theory of the corporation, which argues that corporations should be run in the interests of all stakeholders. This theory offers no account of how conflicts between different stakeholders are to be resolved, and gives managers no principle on which to base decisions, except to follow their own preferences.

In practice, shareholders delegate their control rights to a board of directors, who hire, fire, and set the compensation of the chief officers of the firm. However, because agents have different incentives than the principals they represent, they can destroy corporate value unless closely monitored. This happened in the 1960s and led to hostile takeovers in the market for corporate control in the 1970s and 1980s. The author argues that the takeover movement generated increases in corporate efficiency that exceeded $1.5 trillion and helped to lay the foundation for the great economic boom of the 1990s.

The standard way of thinking about decisions is backwards, says Ralph Keeney: people focus first on identifying alternatives rather than on articulating values. A problem arises and people react, placing the emphasis on mechanics and fixed choices instead of on the objectives that give decisionmaking its meaning. In this book, Keeney shows how recognizing and articulating fundamental values can lead to the identification of decision opportunities and the creation of better alternatives. The intent is to be proactive and to select more attractive decisions to ponder before attempting any solutions.

Keeney describes specific procedures for articulating values by identifying and structuring objectives qualitatively, and he shows how to apply these procedures in various cases. He then explains how to quantify objectives using simple models of values. Such value analysis, Keeney demonstrates, can yield a full range of alternatives, thus converting decision problems into opportunities. This approach can be used to uncover hidden objectives, to direct the collection of information, to improve communication, to facilitate collective decisionmaking, and to guide strategic thinking. To illustrate these uses, Keeney shows how value-focused thinking works in many business contexts, such as designing an integrated circuit tester and managing a multibillion-dollar utility company; in government contexts, such as planning future NASA space missions and deciding how to transport nuclear waste to storage sites; and in personal contexts, such as choosing career moves and making wise health and safety decisions.

An incisive, applicable contribution to the art and science of decisionmaking, Value-Focused Thinking will be extremely useful to anyone from consultants and managers to systems analysts and students.

“This is the book to throw at your human resources director—not literally, of course—when any attempt is being made to bamboozle you about how decisions on pay have been made…It is a closely argued, thoroughly researched treatise on how we got here and how pay could be both fairer and more effective as a reward.”
—Stefan Stern, Financial World

“A flat-out revelation of a book by one of the nation’s top scholars of the labor market…required reading for anyone who cares about the future of work in America.”
—Matthew Desmond, author of Poverty, by America

“Jake Rosenfeld pulls back the curtain on the multifaceted cultural, institutional, and market forces at play in wage-setting. This timely book illuminates the power dynamics and often arbitrary forces that have contributed to the egregious inequality in the U.S. labor market—and then lays out a clear blueprint for progressive change.”
—Thea Lee, President of the Economic Policy Institute

Job performance and where you work play a role in determining pay, but judgments of productivity and value are highly subjective. What makes a lawyer more valuable than a teacher? How do you measure the output of a police officer, a professor, or a reporter? Why, in the past few decades, did CEOs suddenly become hundreds of times more valuable than their employees? The answers lie not in objective criteria but in battles over interests and ideals.

Four dynamics are paramount: power, inertia, mimicry, and demands for equity. Power struggles legitimize pay for particular jobs, and organizational inertia makes that pay seem natural. Mimicry encourages employers to do what their peers are doing. And workers are on the lookout for practices that seem unfair. Jake Rosenfeld shows us how these dynamics play out in real-world settings, drawing on cutting-edge economics and original survey data, with an eye for compelling stories and revealing details.

You’re Paid What You’re Worth gets to the heart of that most basic of social questions: Who gets what and why?